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Early-Warning Model of Financial Crisis: An Empirical Study Based on Listed Companies of Information Technology Industry in China

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  • Lu Xu
  • Qingzhu Qi
  • Peiding Sun

Abstract

Based on the two dimensions of financial and non-financial index, this paper constructs a financial crisis early-warning index system of Chinese information technology listing companies from eight aspects: profitability, debt-paying ability, operational capacity, cash flow management, development capacity, innovation ability, governance structure, and external evaluation. This paper takes the listed companies of information technology industry appearing in Shanghai and Shenzhen stock exchange from 2003 to 2017 as samples for empirical research, and uses factor analysis and Logistic regression analysis to build the financial crisis early-warning model. The result shows that the predictive accuracy of this model is 87.5%, which is of guiding significance for the company to improve its financial management level.

Suggested Citation

  • Lu Xu & Qingzhu Qi & Peiding Sun, 2020. "Early-Warning Model of Financial Crisis: An Empirical Study Based on Listed Companies of Information Technology Industry in China," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(7), pages 1601-1614, May.
    • Handle: RePEc:mes:emfitr:v:56:y:2020:i:7:p:1601-1614
    DOI: 10.1080/1540496X.2019.1703104
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    Cited by:

    1. Ronghua Xu & Yiran Liu & Meng Liu & Chengang Ye, 2023. "Sustainability of Shipping Logistics: A Warning Model," Sustainability, MDPI, vol. 15(14), pages 1-15, July.

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